Developers in US reviving condo-hotel concept

[LOS ANGELES] Rainer Viete, who visits Florida from Venezuela about once a month, said he's buying an apartment at the Hyde Resort & Residences hotel-condo project near Miami so he can order a meal or rent out his apartment when he wants.

"I love the amenities the building will have - a restaurant that can provide room service, a concierge, maintenance, a person that can clean your place, valet parking," said Mr Viete, 25, who works for his family's real estate company in Caracas. The US$250 million project, scheduled to break ground in August, is already 85 per cent sold.

Developers across the US are reviving a concept that collapsed with the real estate crash in 2008: combining condos and hotels.